The Monetary System - 07
January 1998 First Monetary Mutual Limited - INTERmoNETary System |
Reinventing First Monetary with
the |
||||||||||||
In a groundbreaking decision,
First Monetarys Board of Directors approved a
sweeping business plan that expands the scope of the
companys operations. The new business plan calls
for broadening FMs insurance lines beyond D&O
and Employment Practices Liability coverage and creating
a service arm to support and market new products. The first program actively pursued is the formation of a captive program allowing community banks to provide mortgage guarantee products. First Monetarys Mortgage Guarantee Program will launch in the second quarter of 1998. Service
Arm Uses
|
P | roduct promotion |
R | isk management |
O | perations |
F | inance |
I | ntelligence |
T | echnology |
Support will be rendered through a newly created service arm of the company called the MONETARY SYSTEM. This integrated resource leverages the extensive technical capabilities of First Monetarys support businesses to make professional MIS and marketing support services available to community banks that lack time, money, and resources to develop and maintain these important functions internally.
From on-line newsletters to web-based regulatory bulletin
boards, from professional database marketing and desktop
publishing services to virtual human resource
departments, the MONETARY SYSTEM levels the competitive
playing field and gives First Monetary Members big bank
capacities in planning, compliance, control and business
development.